Thailand’s oldest bank announces stablecoin remittance services
The Siam Commercial Bank Public Company, founded in 1907, was the first bank established in the South Pacific country. Go to Source
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Thailand’s Oldest Lender Delays Bitkub Exchange Acquisition Amid Tighter Crypto Rules
The company that owns Thailand’s Siam Commercial Bank has postponed a deal to acquire a majority stake in Bitkub, the country’s largest cryptocurrency exchange. The decision comes amid tightening crypto regulations that limit growth in domestic crypto trading. SCB Postpones Acquisition of Thai Crypto Exchange Bitkub The parent company of Siam Commercial Bank, SCB X, … Read more
Major Thai Bank SCB Acquires 51% Stake in Cryptocurrency Exchange
Siam Commercial Bank, one of the largest banks in Thailand, is acquiring a 51% stake in a cryptocurrency exchange. The acquisition will help the bank “create new growth value in the long term amid a new financial world,” said the CEO of the bank. Major Thai Bank Becoming Majority Shareholder of Cryptocurrency Exchange Thailand’s oldest … Read more
Siam Commercial Bank purchases 51% stake in crypto exchange Bitkub
CEO Arthit Nanthawittaya said the acquisition was based on the growth of businesses in the digital asset space over the last 2 years and the expected value in the long term. Go to Source Powered by WPeMatico
Thailand’s Largest Bank Snubs Ripple – Selects Stellar-based Blockchain for Cross Border Remittances
In an apparent snub to Ripple, Thailand’s oldest bank, Siam Commercial Bank (SCB) is set to open a new cross border remittances corridor in partnership with Lightnet, a fintech company that uses the Stellar blockchain. SCB says the partnership opens the door for more efficient cross border funds transfer from South Korea to Thailand. Before … Read more
Bank of Thailand and 8 Commercial Banks Developing Central Bank Digital Currency
Following the adoption of the country’s first cryptocurrency regulation, the central bank of Thailand is working on its own digital currency in collaboration with the country’s largest banks. Initially, the new currency will be used for interbank transfers; this phase is expected to be completely developed by the first quarter of next year. Also read: Yahoo! … Read more
Thai Bitcoin Scandal Implicates Stock Exchange and Staff at 3 Banks
Staff at three Thai banks and an investor in the Stock Exchange of Thailand (SET) are among the people implicated in a mega bitcoin scandal, local media reported on August 16. According to the Thai police, several bank employees failed to report huge transfers to the country’s Anti-Money Laundering Office, a violation of the country’s … Read more
Thai Bank Terminates Account of Local Cryptocurrency Exchange
A major bank in Thailand has reportedly terminated the bank account of a local cryptocurrency exchange, following an announcement by the central bank prohibiting financial institutions from five cryptocurrency-related activities. Meanwhile, the Thai government is actively working on providing a legal framework for cryptocurrencies. Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Bank … Read more
